First Puerto Rico ETF Planned by Van Eck Amid Market Flux
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Van Eck Associates Corp. is moving ahead with an exchange-traded fund focused on Puerto Rico and other U.S. territories, the first of its kind, even amid the biggest losses for the island’s securities since at least 1999.
The New York-based company registered the Market Vectors Puerto Rico Municipal Index ETF with the U.S. Securities and Exchange Commission in August, regulatory filings show. Jim Colby, a senior municipal strategist at Van Eck who would co-manage the fund, said it may debut this year or in 2014, depending on feedback from the SEC.